Tax and Trade Relief Extension Act affects year-end planning

Article Abstract:

Tax law provisions enacted in the Tax and Trade Relief Extension Act of 1998 are relatively few, but, since they are effective in 1998 or retroactively, should be taken into account immediately for tax planning purposes. The provisions affect individuals and businesses and include several technical corrections. Individuals will no longer have to include nonrefundable tax credits in their alternative minimum tax calculations. Businesses benefit by extensions of certain provisions which did or would have expired, such as the research credit.

Tax Law, Public Finance Activities, Surveys, Tax reform

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Income tax planning for year-end as affected by '97 tax act

Article Abstract:

The need for year-end advice to clients which anticipates the new tax year has particular significance for individuals in 1998 after the passage of the Taxpayer Relief Act of 1997. The major change due to the Act which may require changes in tax plans is in the reduction of long-term capital gains rates and the new 18-month holding period. Other areas of change include IRAs, education, timing, and small corporation alternative minimum tax.

Planning, Income tax

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Short-term planning under the new tax legislation

Article Abstract:

The author discusses issues affecting tax planning since the passage of the Economic Growth and Tax Relief Reconciliation Act of 2001, including the alternative minimum tax and tax credits.

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